Firstbank wins three CIBN Awards
 First Bank of Nigeria Plc, Nigeria’s pioneer and most profitable financial supermarket, has clinched three awards in this years “2006 Bankers’ Committee Merit Awardâ€ÂÂÂ. This is coming on the heels of the “Best Brand of the year Award†bestowed on the it by the National Institute of Marketing of Nigeria during its 2006 Marketing Award at the Shell Hall of Muson Centre, Lagos.
The three Bankers’ Committee awards, presented to the Bank by the Central Bank Governor, Professor Charles Soludo, during this year’s Annual Bankers’ Dinner are The Overall Best Bank in Real and Export Sectors Financing, Best Bank in Export Sector Financing and Best Bank in real Sector Financing for 2006. The event held at the Expo Hall, Eko Hotel & Suites, Victoria Island, Lagos.
In a survey conducted by the Bankers’ Committee, FirstBank emerged the winner amongst 20 Nigerian banks that contested for the coveted awards. The Committee says the Awards were instituted to encourage banks in Nigeria to increase their lending to the Real and Export Sectors of the Nigerian economy.
Receiving the Awards on behalf of the Bank, Mr. Moyo Ajekigbe, Managing Director/Chief Executive, represented by the Group Head, Multinational & Conglomerates, Mr. Eugene Iyamah, says the awards would further galvanized the Bank to do more.
“We are very proud of these awards. The reality of today is not a surprise because we believed that we earned what we got. The awards would further challenge us to work harder. We believe in the depth and vibrancy of Nigerian economy and we will continue to do our best to contribute to its growthâ€ÂÂÂ, he says.
Among the criteria for choosing the winners are value of credits disbursed to the Real and Export Sectors relative to the asset base and shareholders’ funds of each participating bank; Number of beneficiaries of credit facilities disbursed to the Real and Export Sectors; Sectoral spread of the credits i.e. number of sub-sectors within the Real Sector that benefited from the credit disbursed; Status of the credits disbursed (performing, non-performing, loss); and Ethical banking practices.
The award ceremony was witnessed by leading figures in the banking industry including the immediate past Governor of Central Bank, Chief Joseph Sanusi; President of Chartered Institute of Bankers, Mrs. Juliet Madubueze; Deputy Governor in Charge of Financial Surveillance in Central Bank, Mr. Babatunde Lemo and the Director-General of Financial Institutions Training Centre, Dr. Oladimeji Alo. FirstBank’s team include Mr. Timothy Bolade, Chief Compliant Officer; Afam Azubike, Head, Classified Assets Management; Aka Ezeobele, Business Development Manager, Apapa; Kayode Olatubosun, Business Development Manager, Lagos Island & Marina; Mrs Bisi Soluade, Head, Consumer Banking Products; Mrs. Foluke Dosumu, Head of Foreign Operations; Jide Ogundele, Head, Image Management and Emmanuel Obeta, Head, Brand Management.
With seven (7) local subsidiaries, the Bank operates a full-fledged bank in the United Kingdom and a representative office in South Africa. This global outlook is in sync with its strategy of being a national icon and an international player.
With Gross earnings of N67.440billion and gross Profit of N21.833 billion for the year ended March 31, 2006; FirstBank is Nigeria’s most profitable bank. The recent awards, therefore, is a confirmation of its strong domestic franchise and systemic importance to the national economy.
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